WASHINGTON (Sputnik) — On Monday, Foreign Policy magazine, citing a Department of State budget document, reported that the United States was considering cutting Ukraine financial aid by some 68.8 percent.
The Ukraine government, the statement added, hopes that US Congress will keep US assistance to Ukraine at least on 2016 levels, which requires an increase of about $90 million.
The statement explained, however, that the 68.8% decrease in aid should be viewed in correlation with American financial assistance in the form of a loan guarantee.
“In 2016, the US Government provided to Ukraine $1 billion loan guarantee, that was funded from the US budget in the amount of about $300 million,” the statement said. “In 2018, due to the achieved financial stability and expected economic growth in Ukraine, the sides do not envisage financial assistance from the United States in the form of loan guarantee.”
Therefore, the statement concluded, the actual reduction of American assistance to Ukraine in 2018 is around 30% which will allow long-term programs of assistance already in progress, to continue.
